India’s top 11 QSRs, retailers opened 12 stores per day in 2022
They opened nearly 4,600 stores in the year.
The top 11 listed quick-service restaurants and retailers in India opened 12 stores per day in 2022, up 44% compared to last year, a report by the Economic Times said.
The 11 firms, in which Starbucks and Burger King are included, added 4,583 outlets last year, increasing their combined store network to 28,064, data sourced from their latest investor presentations showed.
In 2021, the top 11 firms opened 23,481 stores.
Ashish Goenka, the chief financial officer of Jubilant FoodWorks Ltd which operates the country’s largest QSR chain, Domino’s Pizza, said that they aren’t targeting a set number of store openings but are just increasing stores to meet demand.
According to real estate services firm CBRE, physical retail continues to gain prominence amongst Indian shoppers even as online retail continues to grow.
